Financial Counselors Inc. Lowers Stock Position in Elevance Health, Inc. (NYSE:ELV)

Financial Counselors Inc. cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,047 shares of the company’s stock after selling 237 shares during the period. Financial Counselors Inc.’s holdings in Elevance Health were worth $965,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortis Capital Advisors LLC purchased a new stake in Elevance Health during the fourth quarter worth $29,000. TD Capital Management LLC purchased a new stake in Elevance Health during the fourth quarter worth $30,000. OFI Invest Asset Management purchased a new stake in Elevance Health during the third quarter worth $25,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Elevance Health during the third quarter worth $30,000. Finally, Tyler Stone Wealth Management purchased a new stake in Elevance Health during the second quarter worth $39,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of NYSE ELV opened at $497.60 on Friday. The firm has a 50-day simple moving average of $507.48 and a 200-day simple moving average of $480.74. The stock has a market capitalization of $115.79 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 1.12 and a beta of 0.78. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $521.18.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.60 by $0.02. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The firm had revenue of $42.45 billion during the quarter, compared to analysts’ expectations of $42.19 billion. During the same period last year, the business earned $5.23 earnings per share. Elevance Health’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts predict that Elevance Health, Inc. will post 37.03 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.63 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is presently 25.90%.

Analyst Ratings Changes

A number of equities analysts have weighed in on ELV shares. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Barclays started coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. Finally, Royal Bank of Canada upped their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $569.00.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.35% of the stock is owned by company insiders.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.